The cost of becoming emancipated by communities: almost the entire salary in the Balearic Islands, half in Castilla La Mancha

The contrast between the most and least burdensome communities for youth rent shows that rent in Spain is “inaccessible” for young people. This is reflected in the report for the second quarter of 2021 prepared by the Emancipation Observatory of the Spanish Youth Council ( CJE) On average in Spain, a young person between 16 and 29 years old has to allocate 79.2% of his salary for rentA young person between 16 and 29 years old who rents a home in the Balearic Islands will have to leave, on average , 95.7% of their salary, a fact that contrasts with the reality of the youth of Castilla-La Mancha, who on average will pay around 47.9% of their salary. Both data, which reflect the contrast between the more and less burdensome communities for youth rent, show that rent in Spain is “inaccessible” for young people, as the vice president of the Youth Council of Spain, Antonio Báez, explains to EFE. These are the figures that reflect the report of the second quarter of 2021 prepared by the Emancipation Observatory of the Spanish Youth Council (CJE), with the latest data available in this comparison, which show that a young person between the ages of 16 and 29 must allocate an average of 79.2% of their salary for rent, when this percentage should not exceed 30%. Social and economic consequences This inability to access housing has social and economic consequences, according to another report prepared by the Youth Institute in 2020 within the framework of the Agenda 2030, according to which “youth have been excluded from the right to emancipation and the exercise of an autonomous life.” The same report reflects that young people are emancipated at 29.5 years, but in 2010 53.3 of young people between 18 and 34 years old still lived with their parents, the percentage rose in 2019 to 64.5. To this is added the “impossibility of accessing stable housing even on a rental basis” when the home is owned, ” that constitute It is a supplement to the pension enjoyed by the vast majority of the elderly in our country, it is de facto closed to all our youth, which adds even greater uncertainty to their future.” Báez insists on the fact that the average rent in Spain was 848 euros in the second half of 2021, while a young person could only pay 320 to avoid “over-indebtedness”, a fact that, in his opinion, does nothing but place an “entry barrier” towards their independence. However, it ensures that young people are “overqualified” for their jobs, in which partiality dominates, especially in women, two factors that help only 15% of people between 16 and 29 years are independent in our country.Catalonia, the Canary Islands, the Community of Madrid and Euskadi are, in addition to the Balearic Islands, the Spanish regions in which the rent is above the average (79.2%), while the Region of Murcia, Extremadura and Castilla-La Mancha are the regions s in which renting is “cheaper”. Despite this, none is below 30% of a young person’s salary (in which the least is paid for rent is 17.9 points above), a threshold above of which access to a home would imply an outlay much higher than the maximum tolerable, highlights the CJE. It is less burdensome to buy than to rent Given this scenario, there are two ways to “relieve” the pocket of young people: one of them is to share a flat and another is to buy a home. And it is that just as renting an apartment in Spain represents 79.2% of the salary for a young person, a mortgage is somewhat lower, and on average costs 51.1%. In fact, while ten communities are above 60% in rent, in the case of mortgages it is much lower, and only three of them (Balearic Islands, Madrid and Euskadi) are above 60%, although only Castilla-la Mancha is below 30% (with 29, 4%), with which in all but La Mancha young people also have to go into debt to buy. Buying a flat also has a major drawback: you have to have an entry. On average, a young person has to allocate 3.8 times his annual net salary, that is, he has to give his net salary for almost four years to be able to pay the down payment on the flat and start paying, later and on a monthly basis, the mortgage .For Báez, this is an “impediment” for which “measures must be applied” because, “no matter how much later the mortgage is cheaper, with that great barrier it becomes impossible to buy a flat.” It is “a loop”, says, because what is achieved, through the impossibility of accessing the purchase of a property through its entrance, “is that it continues to be rented”, as it is “almost inaccessible” to pay that sum of money. Sharing a flat, the only solution for become independent Thus, the only solution to become independent is to share a flat. Sharing, young people only allocate 25% of their salary, 5% less than the total they could spend. Likewise, shared housing is but one more indicator that women (18.5%) become more independent than men (12.5%), but partiality or “job insecurity” “forces them to live with more people in the same home,” says Báez. To highlight this figure, he highlights that while 26.7% of men emancipated do it in single-person households, only 13.8% of women can afford the same fact. The rental bonus is not the solution The vice president of the CJE highlights that, for this reason, for the Council the rental bonus “is insufficient “, because, in addition, “it only benefits 2% of young people and anyone who does not have this help is left out of that framework.” In his opinion, one of the few solutions would be to cap rental prices with the aim of making of this market a more “accessible” sector, as well as creating public housing.